South Korea’s National Pension Service is planning to form a private equity fund with local conglomerates including KT Corp. and SK Group, Reuters reported, citing a South Korean newspaper. South Korea’s national pension is the fourth largest in the world, and will focus its private equity investments in overseas resources and in green industry investments, Reuters said.
(Reuters) – South Korea’s National Pension Service will create a private equity fund with local conglomerates including KT Corp and SK Group to invest in overseas resources and green industry, a South Korean newspaper said on Tuesday.
The world’s No.4 pension fund is expected to sign deals with Korean business groups as liquidity providers as early as this month and hire an outside fund house to manage the fund, the Chosun Ilbo said.
A NPS spokesman said he was checking the report.
A KT spokeswoman said the country’s top fixed-line carrier was considering investing overseas with the NPS, but has not made a final decision on the investment.
The news paper did not give an estimated value of the total size of the fund. (Reporting by Ju-min Park and Hyunjoo Jin; Editing by Dhara Ranasinghe)